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United States Cookies Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The United States cookies market was valued at USD 11,677. 1 million in 2021, and it is projected to grow at a CAGR of 3. 38 % during the forecast period (2022-2027). The COVID-19 pandemic created chances for several private cookies industry players to enter the market in order to meet the increased demand.
New York, June 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "United States Cookies Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06283198/?utm_source=GNW
Because cookies are a quick and convenient source of nourishment and energy, demand for innovative cookies products is consistently high in a developed country like the United States. Furthermore, cookie manufacturers are focusing on growing sales by encouraging customers to shop online. Consumers are continuing to look for newer variations of cookie items, which presents retailers with an opportunity to tailor a plan to meet their current demands by showing products that are more relevant to them.
The increased number of people working from home during the lockdown is one factor impacting the growing demand for cookies. As people stock up on staple goods such as cookies and biscuits as they were incorporating cookies into different parts of the day such as from dessert to a reward to a healthy treat after the workout and for various occasions.
Over the medium term, due to various health and wellness concerns, new innovations are transforming market dynamics around the world. Consumer interest in cookies has grown as a result of an increase in new product offers from vendors, including new flavors, safe ingredients, and packaging. Customers are increasingly rejecting items that appear or taste artificial, so businesses can advertise their usage of genuine and real components.Manufacturers are aggressively marketing their products in the region to gain an edge over other brands. Companies are even heavily investing in advertisements and promotion in order to appeal to the consumers towards their range of products.The main reason for the rise in consumption of these fresh and unprocessed products is the increasing awareness of the transparency of ingredients used in these products. This is market trend is expected to boost the product sales in the country.
Key Market Trends
Increasing Demand For Innovative And Creative Cookies
Due to various health and wellness concerns, new innovations are transforming market dynamics around the world. Consumer interest in cookies has grown as a result of an increase in new product offers from vendors, including new flavors, safe ingredients, and packaging. Customers are increasingly rejecting items that appear or taste artificial, so businesses can advertise their usage of genuine and real components. Consumers desire delectable products with unique flavors and combinations, and cookie makers appear to have understood the concept and executed it flawlessly. Leading manufacturers are attempting to improve their long-standing, well-known core items, resulting in growth-stimulating and creative cookie offerings.
The demand for freshly hand-made cookies has also surged among consumers as the consumers are more aware of the ingredients used in the products which also influences the shift toward fresh bakery products. The main reason for the rise in consumption of these fresh and unprocessed products is the increasing awareness of the transparency of ingredients used in these products is boosting the market in the country.
Increasing Sales In The Supermarket’s Bakery Section During Covid-19, United States, 2020
Shopping at the hypermarkets/supermarkets is also perceived as useful, due to the heavy discounts, offers, product bundling, and other consumer-oriented schemes available for the customers. They hold a strong position due to the wide selection of brands on offer and frequent price promotions. These channels are the foremost preference of the cookie manufacturers to launch new products and increase their market share. This is primarily because of their increasing footprints as compared to another distribution channel, which is largely increasing their presence across the country.
Supermarkets/hypermarkets have an abundance of choices in the biscuit category. As a result, there is fierce competition to differentiate various brands of biscuits on the supermarket shelf. This pushes manufacturers of biscuits to reposition their products as a premium items in-store, catering to special consumer needs, such as sugar-free, high fiber, gluten-free, flavor, packaging, or targeting specific age group consumers. Such a wide supply of biscuits has resulted from the increasing share of supermarkets/hypermarkets.
The growing market share of the hypermarket segment can be also attributed to the consumers’ practice of purchasing products in bulk and family packs. Consumers prefer one-stop shopping in order to buy everyday household goods, including snacks, which is pushing the revenue generation in the hypermarkets and supermarket segment
Competitive Landscape
Mondelez International, The Campbell Soup Company, Groupo Bimbo, and General Mills are some of the leading players in the country. The companies are increasing their product line and also expanding their presence, in the country. Companies are increasing their investments in research and development (R&D) and marketing and are expanding their distribution channels to maintain their position in the market. Furthermore, they are adopting competitive strategies by investing more in product development to introduce cookies and innovative flavors that could cater to a larger audience. Additionally, these players are focusing on social media platforms and online distribution channels for their online marketing and branding of their products (cookies) to attract more customers.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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